Monday, June 27, 2005
Credit Report – Check Yours Regularly…and for Free
Title: Credit Report – Check Yours Regularly…and for Free
Author: Charles Essmeier
Article:
In the twenty-first century, there are few documents that have a
greater impact on the lives of Americans then their credit
report. Credit rating determines one’s ability to buy a home, a
car, or to obtain a credit card or a job. Since these things are
important, it is equally important that the information be
accurate. The only way to be sure of that is to check the report
regularly. Prior to last fall, there were two ways to obtain a
copy of your credit report: to pay for one, or to obtain one for
free after being denied credit. Thanks to the Fair Credit
Reporting Act passed last year, Americans can now obtain a free
copy of their credit report from each of the three credit
reporting agencies once a year.
Due to anticipated heavy
response to the offer of free credit reports, the program has
been rolled out in stages. People living in the West and Midwest
are already eligible to apply for a copy of their report at
www.annualcreditreport.com. As of June 1, 2005, those living in
the Southeast are now eligible, and on September 1, 2005, those
living in the Northeast will be eligible. All that is required
to receive a copy of your credit report is to answer a few
simple questions. Since it only takes a few minutes to do, there
is really no reason to put off checking your credit report, and
you may benefit tremendously by doing so.
The credit
score is a single, three digit number that represents an
individual’s credit worthiness, and that score is obtained
through a complex formula that takes into consideration a
person’s borrowing and spending habits and payment history. A
high score makes someone more eligible for loans and credit,
while a lower score may indicate that a person is a risk to
repay. While the information contained on a credit report is
generally accurate, incorrect information sometimes shows up on
credit reports, and incorrect information could result in
someone who being denied a loan for which they might otherwise
be qualified. Furthermore, a credit report check is the best way
to determine if you have been the victim of identity theft, an
increasingly popular crime that often goes unnoticed for a year
or more. If your identity is stolen, your credit rating can be
ruined and you can be burdened with thousands of dollars in
debt. The new bankruptcy law, which goes into effect in October
2005, draws no distinctions between debt incurred by an
individual and debt incurred through identity theft. This alone
should be reason enough to check your credit report
regularly.
Since the law now allows individuals to obtain
one free report per agency per year, anyone who wants to keep a
close eye on their credit report can obtain a free report as
often as every four months. Since the credit report affects your
life in so many important ways, checking it regularly should
become a habit.
About the author:
©Copyright 2005 by Retro Marketing. Charles Essmeier is the
owner of Retro Marketing, a firm devoted to informational
Websites, including End-Your-Debt.com, a site devoted to debt consolidation and
credit counseling, and StructuredSettlementHelp.com, a site
devoted to information regarding structured
settlements.
Author: Charles Essmeier
Article:
In the twenty-first century, there are few documents that have a
greater impact on the lives of Americans then their credit
report. Credit rating determines one’s ability to buy a home, a
car, or to obtain a credit card or a job. Since these things are
important, it is equally important that the information be
accurate. The only way to be sure of that is to check the report
regularly. Prior to last fall, there were two ways to obtain a
copy of your credit report: to pay for one, or to obtain one for
free after being denied credit. Thanks to the Fair Credit
Reporting Act passed last year, Americans can now obtain a free
copy of their credit report from each of the three credit
reporting agencies once a year.
Due to anticipated heavy
response to the offer of free credit reports, the program has
been rolled out in stages. People living in the West and Midwest
are already eligible to apply for a copy of their report at
www.annualcreditreport.com. As of June 1, 2005, those living in
the Southeast are now eligible, and on September 1, 2005, those
living in the Northeast will be eligible. All that is required
to receive a copy of your credit report is to answer a few
simple questions. Since it only takes a few minutes to do, there
is really no reason to put off checking your credit report, and
you may benefit tremendously by doing so.
The credit
score is a single, three digit number that represents an
individual’s credit worthiness, and that score is obtained
through a complex formula that takes into consideration a
person’s borrowing and spending habits and payment history. A
high score makes someone more eligible for loans and credit,
while a lower score may indicate that a person is a risk to
repay. While the information contained on a credit report is
generally accurate, incorrect information sometimes shows up on
credit reports, and incorrect information could result in
someone who being denied a loan for which they might otherwise
be qualified. Furthermore, a credit report check is the best way
to determine if you have been the victim of identity theft, an
increasingly popular crime that often goes unnoticed for a year
or more. If your identity is stolen, your credit rating can be
ruined and you can be burdened with thousands of dollars in
debt. The new bankruptcy law, which goes into effect in October
2005, draws no distinctions between debt incurred by an
individual and debt incurred through identity theft. This alone
should be reason enough to check your credit report
regularly.
Since the law now allows individuals to obtain
one free report per agency per year, anyone who wants to keep a
close eye on their credit report can obtain a free report as
often as every four months. Since the credit report affects your
life in so many important ways, checking it regularly should
become a habit.
About the author:
©Copyright 2005 by Retro Marketing. Charles Essmeier is the
owner of Retro Marketing, a firm devoted to informational
Websites, including End-Your-Debt.com, a site devoted to debt consolidation and
credit counseling, and StructuredSettlementHelp.com, a site
devoted to information regarding structured
settlements.
# posted by Big Ben @ 6:41 PM 
